The ' Sustainable Europe Investment Plan' announced by the von der Leyen Commission will aim to mobilise at least one trillion euros of sustainable investment from various sources between 2021 and 2030, reveals a European Commission document consulted by EUROPE on Friday 10 January.
According to this document, the plan will rely on various sources of funding and will be the main investment pillar of the European Green Deal.
According to its calculations, the Commission estimates that meeting the EU's climate and energy objectives for 2030 will require €1,200 billion per year, or €260 billion in additional annual investment.
Composition of the Plan
Through this plan, the Commission wants at least a quarter of the EU's long-term budget to be dedicated to climate and the environment and estimates that €485 billion could be mobilised between 2021 and 2030.
To this end, it calls on the European Parliament and the Member States to respect this minimum level of ambition in the ongoing negotiations on the next EU Multiannual Framework (see EUROPE 12400/2).
In addition, the Commission anticipates that this will lead to additional national co-financing of €115 billion over this period for climate and the environment.
Some 280 billion will come from the InvestEU fund through private and public investments over the period 2021-2030.
The plan will also cover the amounts used under the future Just Transition Mechanism, which will aim at mitigating the social and economic costs of environmental transition, with a special focus on the most vulnerable countries. The Commission estimates these amounts at €143 billion for the period 2021-2030.
As part of the mechanism, the Just Transition Fund will, among other things, have its own €7.5 billion from the EU budget (for more details: see EUROPE 12400/8). This expenditure from the EU budget will also be complemented by national co-financing, in accordance with cohesion policy rules. According to the paper, this could leverage an additional €30-50 billion through the Just Transition Fund.
In addition, the Sustainable Investment Plan will aim to transform the European Investment Bank (EIB) into the EU Climate Bank through a doubling of its climate-related lending.
Finally, the Commission document states that the it will organise an annual Sustainable Investment Summit to take stock with stakeholders of the progress made under the plan and to identify new avenues for action.
The Plan will be presented on Tuesday 14 January in Strasbourg, in the margins of the plenary session. (Original version in French by Damien Genicot)